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Jun 30, 2024
Park National Q2 2024 Earnings Report
Reported a net income increase of 24.6% compared to Q2 2023.
Key Takeaways
Park National Corporation reported a strong second quarter in 2024, with net income increasing by 24.6% compared to the same period last year. The company's performance was driven by growth in net interest income and a focus on expense control and technology leverage. Total loans and deposits also saw increases, contributing to a net interest margin of 4.39%.
Net income for Q2 2024 increased by 24.6% to $39.4 million, compared to $31.6 million in Q2 2023.
Earnings per diluted common share rose to $2.42, up from $1.94 in the same quarter last year.
Total loans increased by 1.9% during the three months ended June 30, 2024, representing a 7.4% annualized growth.
Net interest margin for the quarter was 4.39%, compared to 4.07% for the three months ended June 30, 2023.
Park National
Park National
Forward Guidance
This document does not contain forward guidance. The company is signalling it is preparing to cross $10 billion in assets.